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base info OKB

OKB to Icelandic Króna Converter and calculator

Convert 1OKB (OKB) to Icelandic Króna (ISK) equals kr 7,987.01 | Bitget

ISK information

About the Icelandic Króna (ISK)

What Is the Icelandic Króna (ISK)?

The Icelandic Króna, abbreviated as ISK and often denoted by the currency sign “kr”, is the official currency of Iceland. The Icelandic Króna is a unique currency, given that Iceland is one of the smallest countries by population to have its own currency and monetary policy. The Icelandic Króna is the sole legal tender in Iceland, and it is used for all transactions within the country.

The Iceland Krona is issued by the Central Bank of Iceland (Seðlabanki Íslands). The Central Bank is responsible for the production and distribution of the currency, as well as for managing Iceland's monetary policy and maintaining the stability of the króna.

What Is the History of ISK?

The króna's roots trace back to the Scandinavian Monetary Union, drawing its name from the Latin word 'corona' meaning 'crown'. Initially, Iceland used the Danish krone, but started issuing its own banknotes in 1885. The Icelandic króna became distinct from the Danish krone after World War I and Icelandic sovereignty in 1918. Due to high inflation, the króna was revalued in 1981, with 100 old króna (ISJ) equating to 1 new króna (ISK).

Notes and Coins of ISK

The Icelandic Króna (ISK) comprises a variety of coins and banknotes, each with distinct values and designs. Coins in circulation include denominations of 1 króna, 5 krónur, 10 krónur, 50 krónur, and 100 krónur. The Central Bank of Iceland issues notes in denominations of 500 krónur, 1000 krónur, 2000 krónur, 5000 krónur, and the highest value of 10,000 krónur.

Is ISK a Stable Currency?

The Icelandic Króna (ISK) has historically been subject to considerable volatility, reflecting the challenges of maintaining currency stability in a small, open economy. Particularly impacted by the 2008 financial crisis, the króna saw a dramatic devaluation, with the exchange rate plummeting from about 90 króna to the euro at the start of 2008 to around 340 króna to the euro by the end of the year. This instability was a direct consequence of the collapse of Iceland's banking sector, which underscored the currency's vulnerability to global economic shifts. Moreover, the króna's value against major currencies like the US Dollar has also been prone to significant fluctuations. For instance, in the first half of 2006, the exchange rate ranged between 50 and 80 króna per US Dollar, but by late 2008, it had depreciated to approximately 135 króna per Dollar. These examples highlight the challenges faced by the Central Bank of Iceland in stabilizing a currency heavily influenced by external economic factors and the dynamics of Iceland's tourism and fisheries-dependent economy.

Is ISK Pegged to EUR?

No, the Iceland Krona (ISK) is not pegged to the Euro. Iceland maintains its own independent currency and monetary policy through the Central Bank of Iceland (Seðlabanki Íslands). The value of the Icelandic króna is determined by the foreign exchange market, meaning it is subject to fluctuations based on market dynamics, rather than being fixed or pegged to the Euro or any other currency.

Will Iceland Adopt the Euro as Its Currency?

As of January 2024, Iceland had not made any definitive plans to adopt the Euro as its official currency. The consideration of adopting the Euro is intertwined with the broader issue of European Union (EU) membership, which Iceland has approached with caution. Following the severe impact of the 2008 financial crisis on the Icelandic economy and the Icelandic Króna (ISK), there was increased discussion about the potential benefits of Euro adoption, such as enhanced economic stability and reduced currency volatility. However, such a move would require Iceland to cede control over its monetary policy to the European Central Bank, a significant concession for a country that values its economic sovereignty. Additionally, public opinion in Iceland has been divided on this issue, reflecting concerns about national independence and the implications for key sectors like fisheries.

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Bitget crypto-to-fiat exchange data shows that the most popular OKB currency pair is the OKB to ISK, with for OKB's currency code being OKB. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for ISK.

OKB to ISK conversion rate trend

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In the past 1D, OKB has changed +3.94% to ISK. Based on the trend and price charts, OKB(OKB) has changed +3.94% to ISK while Icelandic Króna(ISK) has changed % to OKB in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
kr7,987.01
0.0001% / 0.0004%vip-iconVIP
OKX
kr8,188.37
0.080% / 0.100%
Yes
Gate.io
kr8,186.95
0.1000% / 0.1000%
Yes
Last updated 2024/04/16 14:00:19(UTC+0)

What factors influence the conversion rate of OKB to Icelandic Króna?

OKB to Icelandic Króna is falling this week.
OKB's current market price is kr 7,987.01 per OKB, with a total market cap of kr 479,220,526,549.83 ISK based on a circulating supply of 60,000,000 OKB. The trading volume of OKB has changed by +433.17% (kr 6,558,941,142.82 ISK) in the last 24 hours. Last trading day, OKB's trading volume was kr 1,514,163,090.8.
Market cap
$3.38B
24h volume
$56.94M
Circulating supply
60.00M OKB

Conversion tables

The exchange rate of OKB is decreasing.
1 OKB is currently valued at kr 7,987.01 ISK , which means buying 5 OKB will cost kr 39,935.04 ISK . Similarly, kr1 ISK can be traded for 0.0001252 OKB, and kr50 ISK can be converted to 0.006260 OKB, excluding any platform or gas fees.
The exchange rate of 1 OKB to Icelandic Króna has changed by -1.99% in the last 7 days. In the last 24 hours, the rate has fluctuated by +3.94%, reaching a high of 8,756.14 ISK and a low of 7,614.22 ISK . One month ago, the value of 1 OKB was kr 9,075.49 ISK , which represents a -11.99% change from its current value. Over the last year, OKB has changed by
+kr
117.17ISK
, resulting in a change of +9.37% in its value.

OKB to ISK

Amount
14:54 today
0.5 OKB
kr3,993.5
1 OKB
kr7,987.01
5 OKB
kr39,935.04
10 OKB
kr79,870.09
50 OKB
kr399,350.44
100 OKB
kr798,700.87
500 OKB
kr3,993,504.36
1000 OKB
kr7,987,008.72

ISK to OKB

Amount14:54 today
0.5ISK0.{4}6260  OKB
1ISK0.0001252  OKB
5ISK0.0006260  OKB
10ISK0.001252  OKB
50ISK0.006260  OKB
100ISK0.01252  OKB
500ISK0.06260  OKB
1000ISK0.1252  OKB
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Today vs. 24 hours ago

Amount14:54 today24 hours ago24h change
0.5 OKB$28.16$27.1
+3.94%
1 OKB$56.33$54.19
+3.94%
5 OKB$281.65$270.97
+3.94%
10 OKB$563.3$541.93
+3.94%
50 OKB$2,816.49$2,709.67
+3.94%
100 OKB$5,632.98$5,419.34
+3.94%
500 OKB$28,164.92$27,096.7
+3.94%
1000 OKB$56,329.85$54,193.39
+3.94%

Today vs. 1 month ago

Amount14:54 today1 month ago1M change
0.5 OKB$28.16$32
-11.99%
1 OKB$56.33$64.01
-11.99%
5 OKB$281.65$320.03
-11.99%
10 OKB$563.3$640.07
-11.99%
50 OKB$2,816.49$3,200.33
-11.99%
100 OKB$5,632.98$6,400.65
-11.99%
500 OKB$28,164.92$32,003.27
-11.99%
1000 OKB$56,329.85$64,006.55
-11.99%

Today vs. 1 year ago

Amount14:54 today1 year ago1Y change
0.5 OKB$28.16$25.75
+9.37%
1 OKB$56.33$51.5
+9.37%
5 OKB$281.65$257.52
+9.37%
10 OKB$563.3$515.04
+9.37%
50 OKB$2,816.49$2,575.18
+9.37%
100 OKB$5,632.98$5,150.35
+9.37%
500 OKB$28,164.92$25,751.76
+9.37%
1000 OKB$56,329.85$51,503.51
+9.37%

FAQ

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